“EMBRACING FAILURE: CREATIVE DESTRUCTION AND ITS CONSEQUENCES”
This is the first lecture in a planned annual series where world renowned scholars belonging to the Schumpeterian strand of economics will present their research.
William B. Gartner, Arthur M. Spiro Professor of Entrepreneurial Leadership at Clemson University, USA
The 2011 Swedish Schumpeter Lecturer William B. Gartner, Arthur M. Spiro Professor of Entrepreneurial Leadership at Clemson University, is a distinguished world-class scholar. Gartner has for the last 30 years been highly influential in entrepreneurship education and research and for this achievement received several awards. Gartner has published a large number of articles in top journals on new venture creation and entrepreneurial behavior and is not only a widely cited scholar; he is also influential as a person who engages in real-life entrepreneurship and education. In 2005, he was awarded the Global Award for Entrepreneurship Research for his studies on new venture creation and entrepreneurial behavior that combines the positivist and hermeneutic tradition.
When: 9 November 17.00 – 19.00
Where: Bryggarsalen, Norrtullsgatan 12 N, 113 27 Stockholm map
After the lecture we invite you to stay and mingle at a reception with refreshments
Interested? Register by email to: firstname.lastname@example.org
Our venue, Hamburgerbryggeriet, was a beer brewery founded in 1869 by a German brewery master. In 1914 the present day brewery house was finished and it was the largest in Stockholm at that time. Hamburgerbryggeriet was the brewery that invented, and started producing, the popular lager “pilsner”. The brewery eventually became part of Pripps and beer was made here until the 1970s. In 2010, Studiefrämjandet Stockholm took over and today the brewery is used for courses and study circles.
Joseph Alois Schumpeter (1883-1950), was born in present day Czech Republic but started his academic career in Vienna. In 1911 Schumpeter became the youngest professor of economics in the history of the Austrian-Hungarian Empire. He presented heavily contested and novel ideas for his time, a time that was dominated by neo-classical economic theories, and was also the scholar that first brought the entrepreneur into the economic analysis.
The early Schumpeter identified the entrepreneur as the central driving force of a dynamic economy. The entrepreneur is a key factor in the ever present process of economic change and necessary renewal. According to Schumpeter, the entrepreneur created growth and innovation through the discovery of new possibilities and risk-taking. Most important for economic development was not growth in already existing products and services but innovation and transformation that permanently change the economic ecosystem. The new should replace the old. This tension, known as creative destruction, was a main focus in Schumpeter’s scholarship.
The Schumpeterian model is not based on equilibrium but on a constant destruction thereof through entrepreneurship and innovation. In this dynamic interplay between the old and the new, the innovative entrepreneur is the agent of change that ultimately drives economic growth. In his later work, Schumpeter attributed large firms a more important influence on the economy.